Profit Mastery Financial Training

Pre-training Assignment

Thank you for registering for “Profit Mastery, Creating Value and Building Wealth.” I’m ______and I will be your instructor for your up-coming training in ______. I’m looking forward to working with you during the two days we are together.

The program will begin promptly at 8:00 am, so please be on time and remember to bring a calculator. Trying to do the calculations for the case studies on your phone is not very efficient! I have attached the training agenda, but want to emphasize that I am there to serve you, and my primary concern is your competency with the material, so the agenda is flexible.

In preparation for the training, I am asking you to complete the assignment below and to report back to me that you have done so.

The assignment is to watch Section 1 of the Profit Mastery curriculum on the Profit Mastery University online learning website. Section 1 is divided into two Chapters and lasts approximately one hour. We will not be watching this first section during our two days together so this is an important part of your preparation. We will begin our time together on Section 2: Financial Position.

Watching the video will give you an overview of the course, a sense of Steve’s teaching style, an introduction to working on financial material and a good sense of where we are headed when we are together. Please call me if you have any questions!

Please go to: http://www.profitmastery-university.com/home/

Enter username: brsstudent and password: welcome

Click on: Profit Mastery Series-Module #1:INTRODUCTION TO PROFIT MASTERY:CREATING A FOUNDATION FOR CHANGE

Click on ‘Course Handouts’ and then ‘Click to view Adobe document’ which will open the PDF file and print off the handouts. You will not need to bring these with you to the training, as you will be receiving your complete workbook material in San Diego. (The workbooks are large and heavy, so please plan your luggage space for your return trip home accordingly!)

Then go back one page and click on Chapter 1 which will start the video program.

The most prevalent technical problem for registrants is the need to run ActiveX. The way you know this is needed is by the video screen remaining blank with a small red check mark in the upper left corner. You will also have a very hard to see small notice in the upper part of you screen that reads: ActiveX: Click to activate and use this control. Click on it. The next screen that pops up will ask you if you want to run ActiveX. Click ‘run’, and you will then be taken back to the course listing. Click on Chapter 1 and you should be good to go. Mac users info. is below as well.

If you wish to have the image larger, double click on the screen. To return back to the normal image size double click on it again.

Watch Chapter 1, and then review pages 5,6 and 7. Next, do the End of Video Activity on page 8. If you are not a business owner, perhaps think of a client and answer based on how you think they might rate their Seven Steps.

Next answer the Quiz questions on page 9. Don’t worry, Steve answers them on the video! Then turn to page 10 and watch Chapter 2, Parts A and B.

When you have finished the video, read the review on pages 12 and 13. You may skip the End of Video Activities pages. We will do a review of them in class.

Finally, please send a quick email to me at to let me know that you have completed the assignment. I carefully monitor who has and has not completed this work, so please complete it and communicate back to me at your earliest convenience and no later than ______.

Thank you for your advance prep work, please call with any questions and I look forward to working with you on the rest of the program!

Sincerely,

Attention MAC Users
Currently this system does not support all Mac settings and browsers. If you have difficulty, first please try one of the following browsers: Mozilla Firefox version 1.5, Netscape version 7.2, and Internet Explorer version 5. We do not support the Safari browser. Also, the currently supported MAC operating system is MAC OS 10.x. If this does not help, please contact Certilearn Support. Please complete the form and you will receive a reply within 24 business hours, 9:00 AM to 5:00 PM ET, Monday–Friday.
Attention All Users
If you have difficulty registering, you may have to switch browsers (Mozilla Firefox, Netscape, or Internet Explorer). We do not support the Safari browser. For technical support, such as difficulty accessing any of the site pages, contact Certilearn Support. Please include your User Name on the form if you have already registered.
When viewing the program, you may double click on the viewing screen at any time to get a full-screen view. To go back to the smaller screen, double click again.

Profit Mastery Training Agenda

Welcome everyone. I am looking forward to being with you. We will try to stay on this agenda. However, making sure that your questions are answered and you are confident of the material is my most important goal, so we will be flexible on the times. Please plan to be on time or even a little early!

Day One

Time / Activity and Learning Objectives
8:00-9:00 / Introductions, Plan for the sessions Review Chapter 1 & Resource Materials
9:00-12:00
Break at 10:15ish / Section 2, 1-3, Ratios (95 min)
·  Evaluate the financial performance of a business.
·  Utilize financial information to identify strengths, weaknesses, and opportunities.
12:00-1:00 / Lunch
1:00-3:00 / Sec. 2, 4-7, Road Map (86 min)
·  Create a Scorecard using ratios and industry benchmarks.
·  Create a Profit Mastery Assessment
3:00-3:15 / Break
3:15-5:30 / Sec. 3, 1-3, Breakeven (84 min)
·  Understand break-even analysis.
·  Use an income statement as a management and profit generating tool.
·  Know how costs behave in a company.
·  Understand the impacts of changes in price, volume, and costs

Day Two

Time / Activity and Learning Objectives
8:00-8:30 / Review of Day 1, Q and A
8:30-10:00 / Sec. 4, 1-2d, Cash Flow (56 min)
·  Understand how to create a projected profit plan and related cash budget.
·  Understand what the forecasts can tell us about the future of a business.
·  Learn how to use the information to make better decisions and management choices.
·  Understand the importance of creating forecasts
10:00-10:15 / Break
10:15 -12:00 / Sec.4,3, Cash Flow Cont. (53 min)
·  Understand why profits don't necessarily correlate with cash.
·  Understand impacts of seasonal ups and downs on a business.
·  Understand how management efficiencies can have a positive impact on the financial future of a business
12:00-1:00 / Lunch
1:00-3:00 / Sec. 5, 1-3, Financial Gap (87 min)
·  Understand why growth costs money.
·  Forecast what a business needs to grow.
·  Identify how better management can free up cash to fuel growth.
·  Answer the questions: how much do I need to borrow? And: When can I pay it back?
3:00-3:15 / Break
3:15-4:00 / Section 6, Dealing with Banks (28 min)
·  Understanding of what banks look for in a good borrowing relationship.
·  Learn how to be prepared when going to the bank.
·  Learn to communicate effectively with your financial partner.
·  Learn how to find resources for transition planning and business valuation
4:00-5:30 / Admin Guide, Marketing, Wrap-up and Evaluations